Partner to Insurers

In uncertain times, Insurers look at their trusted partners. Partners who have been helping them realize their vision of transformation into the insurers they want to be. Partnerships which have enabled Insurers address important business & technical issues, by introducing innovative solutions and modernizing the existing landscape to synergize operations & adapt to the dynamic business environments.

Strategic Partner to a leading UK based Composite Insurer

Since March 2001, Wipro has had a successful and mutually beneficial strategic partnership with one of the leading UK based composite insurance and pension provider, offering services spanning across Consulting, Technology and Business Process Outsourcing.

Salient Client IT Objectives
  • Fundamental requirement to be more efficient
  • Radical reduction in operational cost base of at least 15% by 2009
  • Refocus of activities and outsourcing of additional IT functions
Engagement - Functional Areas Served
  • Life Insurance - Protection & Investments
  • Pensions & Annuities
  • Sales & Distribution Systems
  • New Product Development
  • Shared services - Finance, MIS, Web security
  • Business system integration
  • New Business Processing
Engagement - Operations Locations
  • UK and India
Salient Engagement Highlights
  • Exclusive Single Vendor engagement with Strong delivery track record and excellent project CSAT
  • Unique operational synergy with Integrated IT/BPO services with offerings for end to end services such as new business to claims processing and client management
  • Mature IT engagement level as a Managed Services Provider
  • Partners in advance IT portfolio planning & enablement exercises
  • Consultants on Business Transformation programs such as development of new growth engines & entry to new markets
Key Benefits to Client
  • Value Articulation framework applied to deliver value added services of over USD1.2 Million through AS, AD and other consulting engagements
  • Cost saving of 10% through implementation of Lean in SIPP delivery
  • Incident Back log reduction by 96% in 10 months of steady state operation
  • Improvement in Offshore leverage from 42% to 63%
  • Incident Resolution Cycle time reduction by 58%
  • Consulting Services for defining the RFI processes, to select product vendor for their internationalization program

This engagement has reached greater heights with the signing of a multi year contract which enables the Insurers to procure discrete IT services in variable quantities over the term and will achieve estimated cost savings of up to £16.5 million over five years commencing in 2010.


IT Partner to a leading Global Insurance Group

Enriching engagement with a German Specialist Insurer
 
 
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> Alliances to Excel
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